Extreme Early Retirement

You wake up one day at the age of 35 and are dreading one more day at the grind. You spend a few more moments in bed dreaming about a beach and a hammock, but then the snooze alarm goes off again and you force yourself out of bed.

Why not make this your day to decide to retire early…by 45! Yes, that is ten years. It CAN be done.

Plan Now for Retiring Early

The likelihood of you stumbling on a billion dollar business in college like Mark Zuckerberg, founder of Facebook, is slim to none. Do you have a dream to retire early while you are still young and fit enough to enjoy it? It is possible. However, it usually takes a very frugal approach to life from the start. The sooner you come up with a plan, the more likely you will be able to realize your dream. Retiring early will require a particular mindset.

It’s a great plan to have even if you don’t end up retiring a millionaire. The likelihood of social security supporting you in your old age is also slim to none. Right now you do not have a choice in contributing part of your paycheck to social security, but you should plan your retirement money on the presumption that there will be no social security.

Social Security and Early Retirement

Baby Boomers are retiring every day, and some of the younger baby boomers are considering retiring early. This might be due to the uncertainty surrounding the Social Security funding and the controversy of raising the retirement age in the near future.

Many pundits are predicting that there will be no Social Security in coming years. This might lead baby boomers, and perhaps some older generation X’ers to consider early retirement and get whatever they can out of Social Security now. But is that a wise idea? For some, it may be and for others, it may not.